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S&P 500, NASDAQ, and Dow Rebounded on May 16

Val Kensington
S&P 500, NASDAQ, and Dow Rebounded on May 16

The S&P 500 (SPY) moved higher last week and started this week on a stable note. After a brief pullback on Tuesday, the S&P 500 opened Wednesday on a stronger note and surged higher. On May 16, nine out of 11 major S&P 500 sectors rose. Strength in the materials and consumer discretionary sectors pushed the market higher. Weakness in the real estate and utilities sectors limited the market gains.